August 1, 2024 – Written by John Cameron
STORY LINK Pound to Euro News, Forecast: Crucial GBP/EUR Support 1.1765
The British Pound edged lower on Wednesday ahead of the latest Bank of England (BoE) policy decision with the latest inflation data also underpinning the Euro.
The Pound to Euro (GBP/EUR) exchange rate retreated to just below 1.1840, but holding above 2-week lows around 1.1820.
A majority of investment banks expect the BoE to cut rates, but there is a high degree of uncertainty, and markets are only pricing in around a 60% chance.
ING’s…
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